SF GIANTS UPDATE: Why the Hunter Pence deal got done now

UPDATE, 11:45 a.m.: The press conference just ended. Lots of tape to transcribe, but here are a few of the general thoughts:

It’s clear that the Giants wanted to get this done by today not only to keep Hunter Pence out of free agency, but also to send a message to the rest of the clubhouse, fans and even other potential free agents that the Giants are serious about ensuring that 2013 was an aberration and they want to fix this in 2014. Specifically, it could send a message to Tim Lincecum that riches might await him too, here. The Giants and Lincecum’s agent (same as Hunter Pence’s agent) are talking, and there is some hope on both sides that this can get done before Lincecum reaches free agency.

This takes a load off Bruce Bochy’s mind going into the winter. Said Bochy, “If I had a kid and he came out with me to a ballgame, I’d tell him to watch Hunter. I might not tell him to watch him throw, or his on-deck routine, but how he plays.”

Pence answered the question before he was asked. Yes, he said, he understands there’s a responsibility that comes with getting a five-year contract of this magnitude. He promised not to take it lightly and not “stagnate” as a baseball player. The way Pence played in all 161 games (soon to be 162) played into this deal. As assistant GM Bobby Evans said “Thank you, Hunter, for making this decision easy for us.”

In an interview after the news conference, Evans said there will be money left over to address other needs, particularly pitching and a left fielder, but he also cautioned that the budget provided by ownership will make some of the higher-ticket options prohibitive, and some of those holes will have to be filled with the Giants’ own young players and others who might not have sexy names.

Pence got the biggest laugh when asked about the intense 15-minute conversation he and Baer had in the clubhouse Friday night, hours before the deal was sealed. Baer said, “We talked about the Willie Mac Award and how much it meant to me.” You can bet this was an ownership-driven deal.

More later.

ORIGINAL POST: The Giants officially announced Hunter Pence’s five-year, $90 million contract. A news conference is scheduled for 11 a.m.

The Chronicle has learned that Pence will earn $16 million in 2014, then $18.5 million over each of the next four seasons. There is no signing bonus. The contract is not heavily backloaded, so one question to ask the Giants is how much leeway this leaves to fill other needs.

Here are some of the canned quotes from the release:

Brian Sabean: “Ensuring that Hunter remained a Giant beyond this season was a top priority for the organization. He was an integral part in helping us win the World Series last season and he provides our club with great veteran presence, both on the field and in the clubhouse, with just all the energy and passion that he brings to the field every day.

Larry Baer: “I want to commend Brian Sabean, Bobby Evans, Hunter and his representatives for all their hard work to keep Hunter in a Giants uniform. Hunter is a dynamic player that plays all out, all the time and who has already established himself as a fan favorite in his short time here. I’m excited to see him in a Giants uniform for the next five years.”

There is going to be a lot of debate whether the Giants should have given Pence that much money over that many years. It’s a fair question that can be answered only by his performance. But, an overpay?

No, not when you consider how much money teams have now with local and national TV contracts and how weak the free-agent market will be.

FanGraphs ranks all the potential hitting free agents by WAR. I’m not a huge WAR guy, but just for the sake of comparison, the top three hitters are Robinson Cano, Jacoby Ellsbury and Shin-Soo Choo. Pence is fourth. Know who’s fifth?

Juan Uribe.

That’s the drop-off.

(Ben Zobrist is listed between them, but the Rays will exercise a very team-friendly $7 million option.)

Somebody would have given Pence 5 x 18. I can think of one off the bat, his hometown team, the Texas Rangers. This is the price the Giants have to pay for not developing their own outfielders and keeping him off the market.

Signing Pence now provides the Giants one other advantage. They go into the offseason less desperate to get something done. Make no mistake. They still need a starter or two, AND a left fielder. But the more holes they fill early, the more leverage they have in negotiations.

Meanwhile, Guillermo Moscoso starts Game 162 today. Not exactly the same drama as Game 162 against the Padres here three years ago, is it?

But third place is on the line, or at least a tie for third.

Barry Zito is expected to pitch at some point today to get a proper goodbye.

There are no real individual statistical milestones on the line, aside from Brandon Crawford. He fell one hit short of .250 last year and is one hit short now. A 1-for-4 today would do it, leaving him at .2495. A 1-for-3 would leave him at .250 on the nose.